Perplexity AI Secures $100 Million Funding At $18 Billion Valuation From Nvidia And SoftBank

Perplexity AI, founded in 2022 and led by CEO Aravind Srinivas, has rapidly become a standout in the generative AI space, recently securing $100 million in funding at a soaring $18 billion valuation. Backed by major investors like Nvidia, SoftBank Vision Fund 2, NEA, and IVP, the company has seen explosive revenue growth and launched Comet, its AI-powered browser. Strategic moves, including a landmark partnership with Bharti Airtel in India, have fueled its global reach. Srinivas remains committed to independence and envisions Perplexity as the core of a new AI-native information infrastructure. INVESTORS: Nvidia, SoftBank Vision Fund 2, New Enterprise Associates & IVP AMOUNT: $100,000,000 VALUATION: $18,000,000,000 HQ: #SanFrancisco #California #VentureCapital #PerplexityAI #AravindSrinivas #Nvidia #SoftBankVisionFund2 #NewEnterpriseAssociates #IVP #TradedVC

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Etched Raises $300 Million In Series C Funding From Sequoia And Others Valued At $10.3 BillionEtched, a San Jose-based AI hardware company, has raised $300 million in Series C funding from Sequoia, Andreessen Horowitz, Jane Street, Argo, and SK Hynix. The round values the company at $10.3 billion. Founded by Gavin Uberti, Robert Wachen, and Chris Zhu, Etched develops frontier inference clusters and its Sohu chip, purpose-built to make running AI models significantly faster, more cost-effective, and more power-efficient than traditional general-purpose GPUs. FUN FACT: In 2022, months before ChatGPT and years before Cursor, Claude Code, and Codex, Gavin Uberti, Robert Wachen, and Chris Zhu dropped out of Harvard to make a bet that looked, at the time, nearly irresponsible: they would build an entire inference system—new chips, boards, interconnects, and racks—from scratch. Etched's first racks ship to customers this summer, a 10-megawatt site is standing up, and customers are already running workloads on Etched hardware remotely. FOUNDERS: Gavin Uberti, Robert Wachen & Chris Zhu INVESTORS: Sequoia, Andreessen Horowitz, Jane Street, Argo, SK Hynix & Soma Capital ROUND: Series C AMOUNT: $300,000,000 VALUATION: $10,300,000,000 HQ: San Jose, California #VentureCapital #Etched #GavinUberti #TradedPartner #TradedVC

Progress Software Acquires Domo's AI Data Platform Business For $400 MillionProgress Software has entered into a definitive agreement to acquire substantially all of Domo’s cloud-based AI and data platform business for $400 million in cash, bringing Domo’s technology, intellectual property, employees, customer contracts, and global operations into Progress’s growing data platform portfolio. Progress CEO Yogesh Gupta said the acquisition strengthens the company’s ability to deliver trusted, AI-ready data solutions, while Domo founder and CEO Josh James said the combination will provide customers with a stronger foundation for building AI applications based on governed business data. The deal is expected to close before the end of Progress’s fiscal year on November 30, 2026, subject to regulatory approvals. Following the transaction, Domo is expected to retain approximately $246 million in net cash and continue as a separate publicly listed entity with a debt-free balance sheet. SALE PRICE: $400,000,000 HQ: Burlington, Massachusetts #VentureCapital #ProgressSoftware #Domo #TradedVC

Paper Secures $34 Million In Series A Funding Led By Accel And IconiqPaper, a San Francisco, CA-based provider of a design platform for agentic AI, has raised $34 million in Series A funding. The round was led by Accel and Iconiq, with participation from Designer Fund, Michael Grinich, Anton Osika, and engineers and designers from Anthropic and OpenAI. The company plans to use the new capital to accelerate product development, grow its team, and expand its investment in AI-native workflows for designers. Founded by CEO Stephen Haney, Paper offers a platform that combines a design environment with agent-native workflows, helping designers and engineers collaborate through a shared language. Its customers include Ramp, Lovable, Vercel, PostHog, Quartr, and Y Combinator. FOUNDER: Stephen Haney INVESTORS: Accel, Iconiq, Designer Fund, Michael Grinich & Anton Osika ROUND: Series A AMOUNT: $34,000,000 HQ: San Francisco, California #VentureCapital #Paper #StephenHaney #TradedVC